Suppose you have $2500 to invest. You can choose one of two accounts in which to invest your money. The first is a flat rate simple interest rate of $150/year. The second is a compound interest account earning 3% per year. a) write an algebraic equation for the simple interest account. Is this a linear or exponential function? b) Write an algebraic equation for the compound interest account. Is this a linear or exponential function?
Suppose you have $2500 to invest. You can choose one of two accounts in which to invest your money. The first is a flat rate simple interest rate of $150/year. The second is a compound interest account earning 3% per year. a) write an algebraic equation for the simple interest account. Is this a linear or exponential function? b) Write an algebraic equation for the compound interest account. Is this a linear or exponential function?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Suppose you have $2500 to invest. You can choose one of two accounts in which to invest your money. The first is a flat rate simple interest rate of $150/year. The second is a compound interest account earning 3% per year.
a) write an algebraic equation for the simple interest account. Is this a linear or exponential function?
b) Write an algebraic equation for the compound interest account. Is this a linear or exponential function?
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